We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 10 September 14
ARE GREEK BANKS ON THE VERGE TO START LENDING AGAIN? - JOHN N. COTZIAS
 It is well known that Greek Banks had suffered severely after the economic crisis of 2008. From that period onwards, major changes have occurred, with rounds of recapitalizations, consolidations, buyouts and mergers and leaving today 4 major Greek systemic banks which are: National Bank of Greece, Piraeus Bank, Alpha Bank and Eurobank. € 8.3billion of Private funds were raised this year between them, allowing them to start expanding their portfolio as the overlooking state control is gradually relaxed, said Intermodal SnP Broker John N. Cotzias in his latest report.
In its latest report, shipbroker Intermodal further said that, the meetings between these banks and the officials of the ECB in Frankfurt last week has launched the final phase of the stress tests. One of the key issues put on the table was that of Greek Shipping loans. The Bank representatives had a direct opportunity to learn and receive clarifications on the details of the procedure and especially on how the findings of the AQR (Asset Quality Review) will blend with the results of the stress tests. Regarding their shipping loans, there were however differences between the Greek Banks’ outlook and that of the ECB, as there are contrasting opinions and predictions as to how the shipping markets will move in the future. Nevertheless the extra scrutiny that the ECB will need to perform in the case of the German Banks, fortunately puts Greek Banks as less of a concern for the time being.
According to Intermodal, it should be noted that the shipping portfolio held by Greek banks exceeds € 8bil, while Greek shipping’s total loans provided by both Greek and foreign banks exceeds € 12bil. According to 2Q2014 results, Piraeus Bank is the leader with a portfolio of nearly € 3bil. National Bank of Greece has € 1.9bil euros while Alpha Bank has € 1.7bil and Eurobank totals € 1bil. Aegean Baltic Bank concludes the list of the top major Greek Shipping banks, holding a portfolio of € 0.3bil.
National Bank of Greece has stated that they are already there to provide new loans and in 2014 a big part of their € 700mil budget has been committed and most of it withdrawn already. It seems that it is the first time post crisis that these major Greek Banks are trying to create new accounts instead of providing financing to a selective existing clientele, and the space provided by traditional foreign banks that have withdrawn their presence from Shipping leaves an opportunistic space for Greek Banks to obtain new clients. However despite any premature optimism, we have to note the Greek banks still face an uncompetitive cost of lending, as the cost of obtaining funding is still a bet that needs to be settled.
Intermodal noted, as portrayed in the BlackRock Exercise results published this year, the Shipping portfolio of Greek Banks shows very low loss rates, and the NPL’s are considered the lowest amongst the spectrum of their overall lending. Based on this fact, Greek Bank Ship-lending can soon find the right time to re-enter as vessel values are at levels that can be considered again attractive and the amount of risk involved in bank lending is not that great if done in a prudent manner. In addition all banks continue to proceed with their own restructuring and reorganization, and we expect that by 2015 bank lending will be back to “business as usual”, and will slowly reach within grasps reach for most Greek Ship-owners.
One thing that we have to stress and this comes merely out of our own personal experience, is that from these major Greek Banks, their highly prized experience and knowledge puts them ahead of the crowd in attracting and accepting the “right type” of shipping investment proposals, the shipbroker concluded.
Compiled by:
Intermodal Research & Valuations
Analysts:
Mr. George Lazaridis
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 04 September 14
PUNJAB STATE POWER CORPORATION LIMITED OF INDIA HAS DECIDED TO BUY IMPORTED COAL - HINDUSTAN TIMES
COALspot.com: The Punjab State Power Corporation Limited (PSPCL) has decided to buy imported coal to run its thermal plants, as reported by Hindust ...
Thursday, 04 September 14
INDONESIAN COAL MINERS MAY GET MORE TIME ON ROYALTIES - FITCH RATINGS
COALspot.com: Fitch Ratings says that coal miners in Indonesia are likely to get more time to repay the government the royalties that were set off ...
Thursday, 04 September 14
INDONESIAN COAL SWAPS SLIDE THIS PAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.90 (-1.68%) day on day and US$ 1.80 (-3.31%) per mt week on week. The ...
Thursday, 04 September 14
CAPESIZE : SENTIMENT REMAINS POSITIVE FOR Q3/Q4 - FEARNRESEARCH
Handy
The Atlantic market has experienced more activity this week. Rates for TA´s are up about 8% w-o-w, much lead by an increasing number ...
Wednesday, 03 September 14
KOREA MIDLAND POWER CO. LTD INVITES BIDS FOR 1 MMT OF BITUMINOUS & SUB-BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: KOMIPO again in the market for 1 million tons of 5700 NAR and 4600 NAR coal for Jan – March 2015. South Korean state-owned util ...
|
|
|
Showing 3506 to 3510 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
|
| |
| |
|
